Adaptive pricing functions for open outcry auctions
In agent-mediated marketplaces, autonomous agents deploy automated bidding mechanisms in order to increase revenue for humans. The ability of agents to estimate the next prices to be revealed in an auction, by applying forecasting, is a key element for efficient and successful bidding. In open outcr...
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| creator | Kehagias, D. Mitkas, P.A. |
| description | In agent-mediated marketplaces, autonomous agents deploy automated bidding mechanisms in order to increase revenue for humans. The ability of agents to estimate the next prices to be revealed in an auction, by applying forecasting, is a key element for efficient and successful bidding. In open outcry auctions, such as English and Dutch, information about bidders behavior is revealed at each round. This paper proposes a bid calculation function based on forecasting of the next price in English and Dutch auctions. The forecasting is based on two linear adaptive filters for stochastic estimation, whose parameters are calculated using a genetic algorithm. In order to test the efficiency of the two bidding methods and to benchmark the performance of the two filters, we conduct a set of experiments and present the results. |
| doi_str_mv | 10.1109/IAT.2005.26 |
| format | Conference Proceeding |
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The ability of agents to estimate the next prices to be revealed in an auction, by applying forecasting, is a key element for efficient and successful bidding. In open outcry auctions, such as English and Dutch, information about bidders behavior is revealed at each round. This paper proposes a bid calculation function based on forecasting of the next price in English and Dutch auctions. The forecasting is based on two linear adaptive filters for stochastic estimation, whose parameters are calculated using a genetic algorithm. In order to test the efficiency of the two bidding methods and to benchmark the performance of the two filters, we conduct a set of experiments and present the results.</description><identifier>ISBN: 0769524168</identifier><identifier>ISBN: 9780769524160</identifier><identifier>DOI: 10.1109/IAT.2005.26</identifier><language>eng</language><publisher>IEEE</publisher><subject>Adaptive filters ; Autonomous agents ; Genetic algorithms ; Informatics ; Nonlinear filters ; Predictive models ; Pricing ; Stochastic processes</subject><ispartof>IEEE/WIC/ACM International Conference on Intelligent Agent Technology, 2005, p.653-656</ispartof><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://ieeexplore.ieee.org/document/1565618$$EHTML$$P50$$Gieee$$H</linktohtml><link.rule.ids>309,310,780,784,789,790,2058,4050,4051,27925,54920</link.rule.ids><linktorsrc>$$Uhttps://ieeexplore.ieee.org/document/1565618$$EView_record_in_IEEE$$FView_record_in_$$GIEEE</linktorsrc></links><search><creatorcontrib>Kehagias, D.</creatorcontrib><creatorcontrib>Mitkas, P.A.</creatorcontrib><title>Adaptive pricing functions for open outcry auctions</title><title>IEEE/WIC/ACM International Conference on Intelligent Agent Technology</title><addtitle>IAT</addtitle><description>In agent-mediated marketplaces, autonomous agents deploy automated bidding mechanisms in order to increase revenue for humans. The ability of agents to estimate the next prices to be revealed in an auction, by applying forecasting, is a key element for efficient and successful bidding. In open outcry auctions, such as English and Dutch, information about bidders behavior is revealed at each round. This paper proposes a bid calculation function based on forecasting of the next price in English and Dutch auctions. The forecasting is based on two linear adaptive filters for stochastic estimation, whose parameters are calculated using a genetic algorithm. In order to test the efficiency of the two bidding methods and to benchmark the performance of the two filters, we conduct a set of experiments and present the results.</description><subject>Adaptive filters</subject><subject>Autonomous agents</subject><subject>Genetic algorithms</subject><subject>Informatics</subject><subject>Nonlinear filters</subject><subject>Predictive models</subject><subject>Pricing</subject><subject>Stochastic processes</subject><isbn>0769524168</isbn><isbn>9780769524160</isbn><fulltext>true</fulltext><rsrctype>conference_proceeding</rsrctype><creationdate>2005</creationdate><recordtype>conference_proceeding</recordtype><sourceid>6IE</sourceid><sourceid>RIE</sourceid><recordid>eNotjslKA0EURQtEUGNWLt3UD3T7Xk1dtWyCQyCQTVyHV5OUaHfTg5C_NxLP5i4OXA5jDwg1IrinbXuoBYCuhblid9AYp4VCY2_Yepo-4YzS2Ch9y2QbaZjLT-LDWELpPnheujCXvpt47kfeD6nj_TKH8cRpuYh7dp3pa0rr_12x95fnw-at2u1ft5t2VxVs9FxZr3JKQfzhpYyAWlIEa6NCRwhE3gqDFIUgr7UMNgZlwQUvHZls5Yo9Xn5LSul47vum8XREbbRBK38Bta5B9g</recordid><startdate>2005</startdate><enddate>2005</enddate><creator>Kehagias, D.</creator><creator>Mitkas, P.A.</creator><general>IEEE</general><scope>6IE</scope><scope>6IL</scope><scope>CBEJK</scope><scope>RIE</scope><scope>RIL</scope></search><sort><creationdate>2005</creationdate><title>Adaptive pricing functions for open outcry auctions</title><author>Kehagias, D. ; Mitkas, P.A.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-i175t-8b4feec22222b33d0153ad088d419a10aab8261ad22ab553c8dc4809cb39a6f83</frbrgroupid><rsrctype>conference_proceedings</rsrctype><prefilter>conference_proceedings</prefilter><language>eng</language><creationdate>2005</creationdate><topic>Adaptive filters</topic><topic>Autonomous agents</topic><topic>Genetic algorithms</topic><topic>Informatics</topic><topic>Nonlinear filters</topic><topic>Predictive models</topic><topic>Pricing</topic><topic>Stochastic processes</topic><toplevel>online_resources</toplevel><creatorcontrib>Kehagias, D.</creatorcontrib><creatorcontrib>Mitkas, P.A.</creatorcontrib><collection>IEEE Electronic Library (IEL) Conference Proceedings</collection><collection>IEEE Proceedings Order Plan All Online (POP All Online) 1998-present by volume</collection><collection>IEEE Xplore All Conference Proceedings</collection><collection>IEEE Electronic Library (IEL)</collection><collection>IEEE Proceedings Order Plans (POP All) 1998-Present</collection></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext_linktorsrc</fulltext></delivery><addata><au>Kehagias, D.</au><au>Mitkas, P.A.</au><format>book</format><genre>proceeding</genre><ristype>CONF</ristype><atitle>Adaptive pricing functions for open outcry auctions</atitle><btitle>IEEE/WIC/ACM International Conference on Intelligent Agent Technology</btitle><stitle>IAT</stitle><date>2005</date><risdate>2005</risdate><spage>653</spage><epage>656</epage><pages>653-656</pages><isbn>0769524168</isbn><isbn>9780769524160</isbn><abstract>In agent-mediated marketplaces, autonomous agents deploy automated bidding mechanisms in order to increase revenue for humans. The ability of agents to estimate the next prices to be revealed in an auction, by applying forecasting, is a key element for efficient and successful bidding. In open outcry auctions, such as English and Dutch, information about bidders behavior is revealed at each round. This paper proposes a bid calculation function based on forecasting of the next price in English and Dutch auctions. The forecasting is based on two linear adaptive filters for stochastic estimation, whose parameters are calculated using a genetic algorithm. In order to test the efficiency of the two bidding methods and to benchmark the performance of the two filters, we conduct a set of experiments and present the results.</abstract><pub>IEEE</pub><doi>10.1109/IAT.2005.26</doi><tpages>4</tpages></addata></record> |
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| subjects | Adaptive filters Autonomous agents Genetic algorithms Informatics Nonlinear filters Predictive models Pricing Stochastic processes |
| title | Adaptive pricing functions for open outcry auctions |
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